August 2012 | Base Metals
Base metals vulnerable in the short term: Market Summary
Poor Chinese data has weighed heavily on sentiment and a lack of monetary easing has turned prices lower. Recent consolidation may now lead to fresh price weakness.
Aluminium: High physical premiums are helping producers to keep operating, but supply cutbacks are needed and it may be that prices have to fall further to prompt them. Like primary, aluminium alloy prices are consolidating, but overall we expect further price weakness.
Copper: Prices tried to push higher, but ran out of...
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